offshore

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Offshore

Describing an institution, especially a bank, that exists in a foreign country. Colloquially, the term refers to institutions that exist in known tax havens. Individuals and companies use offshore accounts to avoid or evade taxes in their home countries. As a result, some emerging financial centers have objected to being called "offshore," asking for parity with the developed financial world.

offshore

Of or relating to a financial organization whose headquarters lies outside the United States. Although offshore institutions must abide by U.S. regulations for operations carried on within the U.S., other activities generally escape domestic regulation.
References in periodicals archive ?
Teesside has always been the vanguard of technological change, and this is why I was so pleased that it was chosen as a location for EDF's first UK off-shore windfarm.
As with other major infrastructure projects, local authority input is severely limited - ultimately the UK Secretary of State for Energy and Climate Change Ed Davey will decide the fate of the off-shore scheme.
Watcher Off-Shore keeps people safe and now Watcher CCU drives logistics efficiency.
We do believe there is a risk in the current proposals and we have suggested that Government should consider whether other emergency services could provide capacity in handling emergency calls off-shore.
Training and technical assistance are also delivered locally, often in person, rather than via a crackly line to an off-shore call centre.
However, externalizing or subcontracting in the services sector to off-shore locations, specifically in the business services sector, has also been growing rapidly in the past two decades.
In the remainder of this section, I will shed some light on possible reasons why MNCs off-shore product development activities.
It has always been assumed that Slovenia is a country where Western European countries off-shore their production to.
Father-of-three Denis Paul Kearns was found guilty of defrauding the tax system over many years and deliberately concealing off-shore funds.
The divestment will leave Morrisons with just three off-shore stores--in Gibraltar, Guernsey and Jersey--after it sold its Scottish island stores last October, with the majority going to Somerfield.
The West Midlands has lost more jobs than any other region to the drive by British companies to shift their operations off-shore.